We have failed seven times up at bat, and we strike out, and I think, "How can I learn from that failure? What went wrong? What could I have done differently?" You have to take it apart to understand your failures. Failures teach you much more than your successes. Sometimes it is better just to pause on a setback, on a failure, on a screw-up, and say, "What did I learn from this?" You learn how to do it better and you recommit yourself.

We made one mistake in a story in which we said that — Woodward and Bernstein said — that there was a slush fund of $300,000 set up in the Committee to Re-elect the President, and it was controlled by Haldeman, and that one of the witnesses had testified to that slush fund to the grand jury investigating Watergate. ... It turned out that he hadn’t been asked, and that interested us a great deal, because if the prosecution wasn’t asking him those interesting questions, that suggested that there was a reason they weren’t, and the reason might be that they were trying to cover it up. Anyway, it took two days, and we got confirmation that there was, and in fact there was a slush fund of $750,000.

I was a student at Yale and wrote a paper about the computerized society that was on the horizon. ... Then I sort of let that lie. I didn’t get a particularly good grade on it, as I recall.

The Godfather was a very unappreciated movie when we were making it. They were very unhappy with it. They didn't like the cast. They didn't like the way I was shooting it. I was always on the verge of getting fired. So it was an extremely nightmarish experience. I had two little kids, and the third one was born during that. We lived in a little apartment, and I was basically frightened that they didn't like it. They had as much as said that, so when it was all over I wasn't at all confident that it was going to be successful, and that I'd ever get another job.

I read that at a key fork in the road moment for me where I just sold CD Baby and had a ton of money. I was like, “What to do now?” And I read this book from this filthy rich old man being entirely honest, and I thought I should just learn from his experience. ... So if what I’m doing seems weird, it’s because I took his advice to heart and I’ve quit the game.

The rest should go to music education, since that’s what made such a difference in my life. I created a charitable trust called the Independent Musicians Charitable

The proudest achievement of my life at that time was that software. Wonderfully organized, extensible, and efficient: the culmination of everything I’d learned about programming in ten years. After a successful relaunch and Christmas rush, I was looking at my plan for 2008 and beyond. All my plans needed a huge effort for little reward, but were required for future growth. I had broken it into about 20 projects, each taking 2 to 12 weeks. But I wasn’t excited about any of them.

When deciding whether to do something, if you feel anything less than “Wow! That would be amazing! Absolutely! Hell yeah!” — then say no.

When I decided to sell my company, I already had enough. I live simply. I don’t own a house, a car, or even a TV. The less I own, the happier I am. The lack of stuff gives me the priceless freedom to live anywhere anytime. So I didn’t need or even want the money from the sale of the company. I just wanted to make sure I had enough for a simple comfortable life. The rest should go to music education, since that’s what made such a difference in my life.

So for years I kept calling myself an entrepreneur until one day I realized like, wait a second, this is expired! Like somebody who is an athlete in high school can’t keep calling himself an athlete forever.